Cabot Oil & Gas CEO's Pay Jumps 33 Percent In 2008

According to a Cabot proxy filing, the compensation committee benchmarks its executive pay practices against a peer group of companies that includes Berry Petroleum Co., Forest Oil Corp. and Encore Acquisition Co.

For 2008, Cabot said its income rose 26 percent to $211.3 million, or $2.10 per share, from $167.4 million, or $1.73 per share, in 2007. Excluding one-time items, the company said it earned $2.31 per share.

Revenue rose 29 percent to $945.8 million.

Shares fell 36 percent to close 2008 at $26. The stock rose 2 cents to close Tuesday at $27.53.